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A: We will answer the first question since the exact one was not specified. Please submit a new…
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Q: What was the real GDP of Nigeria in 2019 and 2020 -Calculate per capita income in 2020
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(Measuring Labor Productivity) How do we measure labor productivity? How do changes in labor productivity affect the U.S. standard of living
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- 5 GDP tends to overstate economic welfare, because it does not include certain nonmarket activities such as home production. understate economic welfare, because it includes expenditures undertaken to offset or correct pollution. understate economic welfare, because it does not take into account increases in leisure. overstate economic welfare, because it does not reflect improvements in product quality.Question 16 The measure of production that values output using a base year (constant price) is called: real GDP. nominal GDP. value added GDP. underground GDP.QUESTION 34 The value of output of a KFC (an American owned company) in Japan is counted as part of GDP for A. USA B. Japan and USA C. Japan D. China
- Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa Rica has a GDP of 9 billion (measured in U.S. dollars) and a population of 4 million. Calculate the per capita GDP for each country and identify which one is higher.Assessment 1 Which one of the following statements is INCORRECT? Select one: A Real GDP is a measurement of GDP in which the quantities produced are valued at the prices in a base year, in other words, it considers inflation. B. GDP at constant prices measures the actual physical volume of production valued at the prices in a base year. C. GDP at current prices takes a continuous and considerable rise in the prices of goods and services into consideration. D. An increase in the prices of goods and services produced might increase the nominal GDP over time.Productivity of beer and wine in Germany and Chile Germany Chile Beer(cases) 75 30 Wine (cases)75 60
- -What was the real GDP of Nigeria in 2019 and 2020 -Calculate per capita income in 2020Further background: • China primarily exports electrical equipment. This would include computers and optical and medical equipment. It's also a big exporter of low-cost apparel, fabric, and textiles. A lot of China's exports are manufactured products made for U.S. companies. These companies pay to ship raw materials to China. There the low-cost factory workers process the materials into the final product. The top import categories in 2017 were: electrical machinery ($147 billion), machinery ($110 billion), furniture and bedding ($32 billion), toys and sports equipment ($26 billion), and plastics ($16 billion). • Almost 75 percent of Canada's exports go to the United States. Canada has abundant supplies of oil, gas, and uranium. Its main exports include oil, vehicles and wood. The top import categories in 2017 were: mineral fuels ($73 billion), vehicles ($56 billion), machinery ($21 billion), special other (returns) ($14 billion), and plastics ($11 billion). • Mexico sends…Question 17 When production in an economy grows more quickly than the population in that economy, which of the following must be occurring? Living standards are falling The economy is a successful one. Real GDP is falling Incomes are growing at a slower rate than the population
- 16 - Which of the following is the production value of a Turkish artisan who produces bread in Karabük? a) GDP B) net national income C) GDP D) GDP vs. GNP TO) Added Value1. China has a greater GDP value than Canada. Their national GDP is currently 2nd in the world. Why might Canada still be better off in terms of Standards of Living? a) All of the following are correct statements. b) Canada's spending on GDP has a greater percentage going towards health, education and social welfare programs. c) Canada's economic growth has been more environmentally friendly and has caused less damage to their environment. d) There is less extremes between those who have money and those who do not. Hence the wealth in Canada is more evenly spread out when compared to China. e) Canada has a smaller population so our GDP per capita is greater.Problem Country produces 100 pizza at price $8, 20 tomatoes at price $2 and 45 meat at price $6. One fourth of tomatoes and one third of meat is used in production of pizza. Question: Calculate GDP of this country.